Friday, May 18, 2007

Symantec and Huawei Technologies are forming a joint venture company to develop and distribute security and storage appliances to global telecommunications carriers and enterprises. The new company will be headquartered in Chengdu, China, with Huawei owning 51 percent of the joint venture and Symantec owning 49 percent.

Huawei will contribute its telecommunications storage and security businesses including its integrated supply chain and integrated product development management practices. Additionally, the new company will have access to Huawei's intellectual property (IP) licenses, research and development capabilities, manufacturing expertise and engineering talent, which includes more than 750 employees.

Symantec will contribute some of its leading enterprise storage and security software licenses, working capital, and its management expertise into the new company. Symantec will also contribute $150 million toward the joint venture's growth and expansion.

The companies expect their joint venture to close late in the calendar year, pending required regulatory and governmental approvals.

http://www.huawei.com

http://www.symantec.com

In March 2007, 3Com closed its acquisition of Huawei Technologies' 49% stake in H3C for $882 million and 3Com now owns 100% of the China-based company. The Huawei-3Com joint venture was originally established in 2003.